Thursday, July 28, 2011
NRC Auctioning 16 C-stores Under Bankruptcy Proceeding
Source: Convenience Store News
CHICAGO -- NRC Realty & Capital Advisors (NRC) has been retained by the U.S. Bankruptcy Court for the Middle District of Alabama to auction 16 operating and recently-closed convenience stores with gas. The properties are owned and operated by RPM Financial LLC and its affiliated company, USA Travel, who are the debtors and sellers of the property.
Thirteen of the stores are located in Alabama. The other three are located in Gulf Breeze, Fla., Pensacola, Fla., and Cuthbert, Ga. The sales will take place under a sealed bid process, with a deadline of Sept. 15. All sales are subject to court approval.
The sale is a Chapter 11 bankruptcy proceeding. All 16 properties are lien-free and being sold without supply or branding agreements, NRC said. "The operating sites have good sales volumes, and a number of the facilities are less than 10 years old," said Evan Gladstone, NRC's executive managing director.
For more information about the properties for sale, visit www.nrc.com/1114.